Amid the ongoing conflict in the Middle East, crude oil prices have crossed $126 per barrel. According to the latest data, the price of Brent crude reached nearly $126.31 per barrel—its highest level since March 2022. Currently, it remains around $125 per barrel.
According to BBC, US President Donald Trump is scheduled to receive a briefing today regarding a possible attack against Iran. This briefing may include discussion of new operational plans for attacking Iran. After this news came out, oil prices have increased.
Meanwhile, reacting to the rise in oil prices, Iranian Parliament Speaker Mohammad Baghar Ghalibaf took a dig at the situation, saying the next stop would be $140 per barrel. He commented that Trump was getting bad advice from his own advisers.
He also mocked US Treasury Secretary Scott Besant, claiming that oil prices were rising precisely because of his advice.
Five major updates of the last 24 hours…
1. US spends $25 billion on conflict: The United States has spent a total of $25 billion in the last two months in relation to the conflict involving Iran. This is the first time that America has made public data related to its expenses on this conflict.
2. Trump shares picture with rifle: US President Donald Trump warned Iran by posting a picture of himself holding a rifle. The photo was accompanied by the caption: “No more ‘Mr. Nice Guy'” (meaning he won’t go soft anymore).
3. Iran files complaint against US in UN: Iran has filed a formal complaint in the UN, in which it has accused the US of seizing a ship and taking possession of 3.8 million barrels of oil. 4. 1.2 million people in Lebanon are at risk of starvation: A UN report says that due to conflict, displacement and economic pressures, more than 1.2 million people in Lebanon may face food crisis.
5. Phone conversation between the Foreign Ministers of India and Iran: Foreign Minister S. Jaishankar and Iran’s Foreign Minister Abbas Araqchi discussed over the phone the ceasefire, bilateral relations and the regional situation.